? asked in Business & FinancePersonal Finance · 2 years ago

hi is there such a thing as a "drip feed" bank account?

Update:

is there such a thing as a "drip feed" bank account, meaning i can only withdraw a certain amount each week or month as i have budgeting problems stemming from past addictions problem.

3 Answers

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  • 2 years ago

    The bank is not your mother - who would only give you so many $ per week. But maybe your real mother (father, friend, employer) would take on that responsibility. [You put your money / your paycheck into the other person's account, and then there is a fixed monthly transfer to your account ... except what if you honestly need extra cash?]

  • 2 years ago

    i wonder if anyone might know better terminology than "drip feed" so i can search for a solution better? restriced allowance account or something? i know nada about the world of finance.

  • Anonymous
    2 years ago

    Yes. I set one up for myself - it receives money from another account in small regular amounts so that I can make minor card payments from it. The main account is a Private Bank and gets benefits because the salary goes to it, but the other has some convenient features. All the money is accessible at any time.

    You can get investment accounts where the interest is linked to another account - you can't access the capital without penalty but you get full access to the interest in the other account.

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